RespireRx Pharmaceuticals Inc (RSPI)

[gfp927z]

Jerrydylan, Here's a summary of the May '07 Cortex $2.50 options -

$2.50 calls - open interest 719, last trade at .30 cents on 10-30-06.

$2.50 puts - open interest 1582, last trade at .75 cents on 10-30-06 (prior to the 10-30-06 trade, the last open interest figure I saw was 213, so that's a fair size jump).


The next highest open interest figures are in the Nov '06 $2.50 calls (625), the Feb '07 $2.50 calls (664), and the Feb '07 $5.00 calls (711)


These Cortex options seem very illiquid, with huge bid/ask spreads. With the stock price so low, buying the common might be a better alternative strategy, rather than going the option route, especially if things take longer than expected. Dr. Stoll estimated that they would be getting the full package of new tox data submitted to the FDA by the end of Q1-07, and with the potential for FDA dawdling, that could conceivably push the FDA decision timetable past May (plus I don't think we have the 30 day decision guarantee that the FDA gave last time).